Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 1.58% against the USD and closed at USD1686.70 per ounce, amid strength in the greenback and after some countries began reopening their economies.
In the Asian session, at GMT0300, the pair is trading at 1695.50, with gold trading 0.52% higher against the USD from yesterday’s close.
The pair is expected to find support at 1680.6, and a fall through could take it to the next support level of 1665.7. The pair is expected to find its first resistance at 1712.8, and a rise through could take it to the next resistance level of 1730.1.
The yellow metal is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
